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Mnuchin: "There is potential of a trade war"

In an interview with CNBC Friday, Treasury Secretary Steve Mnuchin said that the Trump administration has been "very well-organized" in its handling of tariffs on Chinese goods, and that their "objective" is to avoid a trade war, but warned that "there is the potential of a trade war."

Mnuchin is breaking with White House economic advisor Larry Kudlow, who has tried to instill a sense of calm with the president, who has denied trade war fears on Twitter, and through the roller coaster markets this week by insisting the U.S. is not in a trade war with China.